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IMARC Group, a leading market research company, has recently released a report titled “Wireless POS Terminals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global wireless POS terminals market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Wireless POS Terminals Industry?
According to the report, The global wireless POS terminals market size reached US$ 9.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.5 Billion by 2028, exhibiting a growth rate (CAGR) of 11.26% during 2023-2028.
What is Wireless POS Terminals?
Wireless point of sale (POS) terminals are digital devices that are integrated with hardware systems for processing card payments at retail locations. They facilitate inventory management, customer and supplier order management, integrated supplier purchasing, multi-store management, and invoicing. They also aid in recording sales figures, payroll management, and inventory control to ensure smooth business functions. Moreover, they allow the transfer of inventory between stores, which makes it easy to consult the product description and relevant transfer information.
Wireless POS terminals assist in summarizing the activities of the company, including reports on accounting, sales, contacts, prices, and purchases over a period. They help in managing several stores within the same software. They also provide more flexibility as compared to conventional wired terminals that are applicable for a limited distance. At present, wireless POS terminals find extensive applications in the retail, hospitality, full-service restaurant (FSR), quick-service restaurant (QSR), institutional FSR, healthcare, entertainment, and transportation across the globe.
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What are the growth prospects and trends in the Wireless POS Terminals industry?
The significant rise in the adoption of POS terminals in different sectors represents one of the key factors positively influencing the market. In addition, the increasing need for card swipes and the emerging trend of contactless payment are catalyzing the demand for wireless POS terminals. Additionally, there is a rise in the integration of swipe machines and high-security protocols to enhance the in-store digital payment experience. This, in confluence with the growing preference for a hassle-free shopping experience, is bolstering the market growth. Moreover, there is an expansion of fully automated and cash counter-free supermarkets, hypermarkets, convenience stores, and showrooms, which is fueling the growth of the market.
Apart from this, the increasing sales of smartphones, laptops, and tablets and high-speed internet is creating a favorable market outlook. In addition, the expansion of small and medium enterprises (SMEs) and the growing number of micro-merchants and credit card users are encouraging key market players to invest in wireless POS terminals. Moreover, the easy availability of wireless POS terminals across various e-commerce websites, coupled with free doorstep delivery, is strengthening the market growth. Furthermore, the integration of advanced technologies, such as artificial intelligence (AI), into POS systems to help retailers collect and analyze massive amounts of customer data to gain valuable insights is positively influencing the market. Additionally, the increasing investments in research and development (R&D) activities by the key players to offer value-added services are expected to drive the market in the future.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
Portable Countertop and Pin Pad
MPOS
Smart POS
Others
Breakup by Component
Hardware
POS Software and Services
Breakup by Technology
NFC Terminal
Non-NFC Terminal
Breakup by Industry
Retail
Hospitality
Healthcare
Transportation
Sports and Entertainment
Others
Breakup by Region
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Ingenico
Verifone
First Data
PAX Global Technology
NCR Corporation
Diebold Nixdorf
BBPOS
Elavon
Castles Technology
Winpos
Bitel
Cegid Group
Squirrel Systems
Newland Payment Technology
Citixsys Americas
Izettle
Revel Systems
ShopKeep
TouchBistro Inc.
Vend.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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